Data from Imovirtual has found that the average value of properties, which in the third quarter stood at €368,441, still grew by 1.4 percent compared to the second quarter of this year.

Lisbon (€591,072), Faro (€485,065) and Madeira (€369,579) were found to be the most expensive districts in the quarter analysed by the real estate portal.

Property sales

The average value of properties in Portugal currently stands at €368,441, around €25,900 more expensive than in the same period in 2020. Compared to the second quarter of this year (average price of €363,475), there was also an increase of +1.4 percent.

The report found that all analysed districts show average price increase in Q3 2021 compared to Q2. Lisbon (€591,072), Faro (€485,065) and Madeira (€369,579) are the most expensive regions, while Guarda (€113,304), Castelo Branco (€124,717) and Portalegre (€129,543) are the cheapest.

The most significant increases compared to the second semester were registered in Portalegre, with an average value of €129,543 (+7.3 percent); Vila Real, with an average value of €191,057 (+6.8 percent); Madeira, with an average value of €369,579 (+5.7 percent) and Setúbal, with an average value of €306,522 (+5.2 percent).

The districts with the highest increase in the average selling price in the third quarter of this year compared to the same period in 2020 are Évora (+29.3 percent), with the average price standing at €258,395, Madeira (+17.9 percent) and Portalegre (+12.4 percent).

Rental properties

With regard to leasing, there was a slight increase of +0.6 percent in the average price, which went from €996 in the second half to €1,002 in the third quarter. However, compared to the third quarter of last year, when the average rental price was €1,054, there was a decrease of -4.9 percent.

The most expensive areas to rent in Portugal in the third quarter were found to be Lisbon (€1,263), Porto (€947), Madeira (€874), Faro (€826) and Setúbal (€761), while at the other end of the scale, Castelo Branco (€399), Bragança (€401) and Portalegre (€421) were the cheapest.

Beja (+16.2 percent), Vila Real (+15.8 percent) and Portalegre (+15.3 percent) were the districts with the highest increase in the rent price announced in the third quarter compared to the second quarter, registering respectively the values ​​of €496, €513 and €421.